| The EURO made great progress last week in which was a short week for US traders as they took off for the Thanks Giving weekend. I have a couple of things to say about this. Firstly, the EURO moves looks very impulsive on the four hour and daily time frames and I will be surprised if an attempt at 1.20 is not made today or tomorrow.
Such an attempt could be thawted as soon as this afternoon however, when US traders get back to their desks and the New York session gets underway. Traditionall,y both stocks and the US currency do well after such a holiday break.
For those traders who need to trade the move, the price action will say it all, any aggressive selling move off a morning run up by London will be the sign that I need in order to short the market. Lack of such a move will indicate an attempt at at least one of the three highs immediately above price and a possibility of breaking 1.20
Now above 1.20 then the Juncker, Draghi and ECB 'selling team' might lay in wait so be careful !!
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